BCA I Basic Accounting

Program: BCA
Semester: First L T P C
Course: Basic Accountancy 3 0 0 3
Course Code: 3CSEC101
Course Objective:
Students will be able to
1. Understand the nature, scope, objectives, branches and principles of financial accounting.
And also enable learners to understand the journal transactions, ledger, trial balance and
errors disclosed by it.
2. includes Bank reconciliation statement, its features, objectives and its preparation as per
both methods and also different types of errors and its rectifications.
3. Provide students with an understanding of the importance of bills of exchange, its
constituents and explain the concepts of depreciation, the methods of providing depreciation
as well as obsolescence,amortization depletion and fluctuations.
4. Understand the preparation of P/L statement and Balance sheet as well as its adjustment for
ascertainingthe financial position of the business.
Course Outcome:
After the successful completion of the course, the students will be able to:
1. Understand the objectives, scope, importance, branches and principles of financial
accounting and its applications in business organizations and record journal transactions,
posting it into leger andprepare trial balance as well as understand the methods to allocate
errors in trial balance.
2. Understand the objectives and purpose of Bank reconciliation statement, preparation

according to balance and total method and apply the rectification of different types of errors
in subsidiary books tosolve business problems.
3. Evaluate the due date, days of grace in bills of exchange, analyze the difference between
bills of exchange and promissory notes. Understand depreciation, analyze the causes of
depreciation, factorsaffecting depreciation and fixed & reducing instalment method to
solve problems.
4. Analyzing a firm’s financial activities using financial statement analysis tools to know
the company’s overall performance.
Topics Hours
Unit I: Introduction to Financial Accounting.
Introduction; Scope and Objectives; Branches of Accounting; Generally Accepted
Accounting Principles and Standards. Journalizing Transactions: Recording of
Transaction, Advantages of Journal, Classification of Accounts and its Rules, 11
Compound Entries; Ledger: Introduction, Posting and its Rules; Trial Balances:
Trial Balance Preparation, Errors Disclosed by Trial Balance, Methods of Allocating
Errors in Trial Balance
Unit II: Bank Reconciliation Statement & Rectification of error
Meaning, special feature and objective, format and preparation according to
balance method, total method and total and balance method. 7
Types of errors, rectification of errors of omission, errors of commission,
compensating errors, errors of principle, errors in the subsidiary books.
Unit III: Bills of Exchange & Depreciation.
Definition, characteristics, parties-drawer, drawee and payee, specimen
explanations of the constituents of bills of exchange, days of grace, parties of bills
of exchange and calculation of due date, difference between bills of exchange and
promissory notes, payment, discounting, endorsement and sending the bill for 8
collection, retiring the bill under rebate, dishonor of bill.
Depreciation: Meaning, definition, obsolescence, depletion, amortization,
fluctuation, Causes of depreciation, factors affecting depreciation, methods of
providing depreciation, accounting treatment, fixed and reducing installment
system their advantages and change in method.
Unit IV: Financial Statements (With and without adjustments)
Meaning of financial statements, users, Capital and revenue expenditure,Limitations
of financial statements, Trading Account, Profit and loss account, and Balance sheet;
With Adjustments: Treatment of depreciation and appreciation in the value of assets,
outstanding expenses, prepaid expenses, accrued and unearned income, interest and 14
loan, bad debts, provision for bad and doubtful debts, provision for discount on
debtors and creditors, abnormal losses of goods and property, managers
commission, Deferred revenue expenditure.
Suggested Reading:
1. Accounting for Management, Maheshwari. S.N (2009). 2nd Edition. Sultan Chand & Sons
2. BASIC Accounting, M.Y.Khan and P.K.Jain (2010) 5th Edition, Tata Mc Grew Hill.
3. Financial Accounting- Dr. Sanjeev Sharma, 1st Edition 2012),
SharmaPublication

BCA I Basic Accounting

Uploaded by

Copyright:

Available Formats

BCA I Basic Accounting

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

BCA I Basic Accounting

Uploaded by

Copyright:

Available Formats

Program: BCA

2. Understand the objectives and purpose of Bank reconciliation statement, preparation

You might also like